WE TRANSFORM BUSINESS NEEDS INTO SOLUTIONS THAT GROW WITH YOUR BUSINESS.
Certainty of Execution
The Bancorp does not use third-party funding sources, which ensures a streamlined and transparent origination process.
Attractive Leverage
Our bridge loans cover up to 80% of purchase price (75% for non-multifamily properties) plus 100% of renovation and/or tenant improvements/leasing costs.
Flexible Financing
Our loans range from $2 million to $50+ million, providing liquidity and flexibility for our customer base.
Nonrecourse Bridge Lending Parameters
|
Loan Amount |
$2,000,000 to $50,000,000+ |
|
Loan Term |
3-year initial term, plus two 1-year extension options |
|
Asset Types |
Multifamily, Retail, Office, Industrial, Self-Storage, and Mobile Home Communities |
|
Security |
First mortgage lien on subject property |
|
Borrowing Entity |
Bankruptcy remote, single-purpose entity |
|
Loan to Cost |
Up to 80% of purchase price (75% for non-multifamily) plus 100% of renovation and/or tenant improvements/leasing costs |
|
Loan to Value |
Up to 80% of stabilized value (75% for non-multifamily) |
|
DSCR Requirement |
1.00x on NCF; prefunded interest reserves and/or guarantees considered |
|
Amortization |
Interest only during term, 25 to 30 years during extensions |
|
Index |
30-day average SOFR |
|
Origination Fee |
1.00% |
|
Exit Fee |
0.50% – 1.00% |
|
Prepayment |
No lock-out; spread maintenance for 18-24 months |
|
Recourse |
Nonrecourse except for standard "bad boy" carve-outs |
|
Sponsorship |
Established track record with sufficient net worth and liquidity |
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RECENT TRANSACTIONS
Multifamily Property
Columbus, OH
Multifamily Property
Dallas, TX
Multifamily Property
Tucson, AZ
Multifamily Property
Tampa, FL